Altshuler Shaham Control Sale Nears Completion with Local Investor and CEO
The sale of controlling interest in Altshuler Shaham Finances is progressing faster than anticipated, following an earlier report by Calcalist. The current controlling shareholders, Gilad Altshuler and Kalman Shaham, are in advanced negotiations with a local investor who will acquire their stake. The company's CEO, Yair Levinstein, is set to be a minority partner in the acquisition.
Altshuler and Shaham plan to sell their combined 55.1% ownership, held through Altshuler Investment House, for approximately one billion shekels. The deal values the company at 1.8 billion shekels. The transaction is expected to be finalized this week, before the Yom Kippur holiday.
Levinstein, who currently holds a 14.8% stake in the publicly traded company, will increase his share as part of the deal. The potential sale was first revealed by Calcalist last Wednesday. Following the initial report, Altshuler Shaham's stock surged 15% before declining 8% the following day.
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